1. It is hereby found, determined and declared that the reestablishment of the greenway heritage conservancy for the Hudson river valley and the carrying out of its corporate purposes is in all respects for the benefit of the people of the state of New York, for the preservation and enhancement of the natural and historic resources of the Hudson river valley and in furtherance of their welfare and prosperity, and is a public purpose, in that the conservancy will be performing an essential governmental function in the exercise of the powers conferred upon it by this title and the conservancy shall not be required to pay taxes or assessments upon any of the real property interests or rights acquired by it or under its jurisdiction or control, or upon its activities in the operation and maintenance of such property interests or rights or use of any moneys, revenues or other income received by the conservancy. All contributions of real or personal property interests or rights made to the conservancy whether by gift, devise or bequest shall to the extent deductible for federal income tax purposes, be deductible for purposes of the tax law to the extent provided therein.

2. The heritage task force for the Hudson river valley is hereby reestablished in the executive department to be the greenway heritage conservancy for the Hudson river valley a body corporate and politic constituting a public benefit corporation and to consist of seventeen voting members and nine non-voting members. All voting members shall reside within the greenway and may designate representatives to act in their stead. The governor shall appoint three voting members, one of whom shall also be the chairperson. Two voting members shall be appointed by the temporary president of the senate; two voting members shall be appointed by the speaker of the assembly; one voting member shall be appointed by the minority leader of the senate; one voting member shall be appointed by the minority leader of the assembly and eight voting members shall be appointed by the council. A member of the council may not be appointed to be a voting member of the conservancy. The commissioner and the commissioners of the state departments of transportation, agriculture and markets and economic development and the offices of parks, recreation and historic preservation and general services, the secretary of state, the chairman of the state senate committee on environmental conservation and the chairman of the state assembly committee on environmental conservation, or such members' designated representatives, shall be nonvoting, ex-officio members of the conservancy. The term of office of voting members commencing as of the effective date of this section shall be four years except that five of the first voting members appointed pursuant to this section shall have a two-year term and that another five of the first voting members appointed pursuant to this section shall have a three-year term. Each member appointed to such task force by the commissioner before enactment of this section, shall continue in office until a quorum of voting members has been appointed. In the event of a vacancy occurring in the office of any member, such vacancy shall be filled for the balance of the unexpired term, if applicable, in the same manner as the original appointment.

3. The conservancy shall actively seek qualified candidates for membership and shall recommend such candidates to the governor.